Bitcoin nearing $800/BTC

Re:Bitcoin nearing $800/BTC by jluxenberg on Monday November 18, 2013 @07:27PM (#6758344)

If USD/BTC goes slightly above $1,000, it will be profitable to mine on EC2 GPU instances.

edit: Forgot to mention, only profitable with Spot instances which are significantly cheaper than the on-demand rate.

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Re:Bitcoin nearing $800/BTC by loceng on Monday November 18, 2013 @07:28PM (#6758350)

Could Amazon disallow that if they wanted?

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Re:Bitcoin nearing $800/BTC by dragonwriter on Monday November 18, 2013 @07:33PM (#6758365)

> Could Amazon disallow that if they wanted?

It would make sense for Amazon to raise the price rather than disallowing it (specifically, because enforcing a prohibition on activity would cost Amazon money, but setting the price to be at least marginally more expensive than Amazon's expected minimal-effort realizable gain from using the GPU instances themselves would make Amazon money.)

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Re:Bitcoin nearing $800/BTC by rb2k_ on Monday November 18, 2013 @07:32PM (#6758361)

No they could not, it's just OpenCL. Also: Why would they? They still get paid and the GPU is dedicated on those instances.

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Re:Bitcoin nearing $800/BTC by loceng on Tuesday November 19, 2013 @12:22PM (#6762671)

Why wouldn't Amazon just then dedicated "all" of their free resources towards mining them, and keep whatever profits other are making?..

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Re:Bitcoin nearing $800/BTC by mayneack on Monday November 18, 2013 @07:31PM (#6758355)

For the time being that is.

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Re:Bitcoin nearing $800/BTC by ye on Monday November 18, 2013 @07:39PM (#6758396)

BTC just crossed $1032 in China

http://i.imgur.com/etPRM0q.png

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